The NCUA Budget: Easy Money... Part 5

1) Agree to manage the NCUSIF for one year from December 15, 2016 to December 15, 2017. [After approval at the scheduled NCUA December Board meeting!]

2) Will manage the portfolio under current NCUSIF statutory investment authority, without any request for expansion of existing statutory restrictions.

3) Will increase NCUSIF portfolio earnings by $100 million in calendar year 2017, over and above NCUA senior staff projections. [That would be about a 33% increase on return on investment (ROI)!]

4) Agrees not to mix with nor infect any NCUA robusterians with whom he may need to converse. [Nor say "nah, nah, nah" or give "signals with his hands".]

and also...

5) Agrees to be compensated on a "contingency fee" basis similar to the contingency legal fee agreements already approved by the NCUA OGC in 2012.[But in the spirit of fairness, is willing to lower the fee to only 10% of gains over $100 million (not to exceed say $1 billion) rather than the 25%+ fees approved for the legal beagles.]

Easy Money!

Mr. Chair, ready to "ACT" on your behalf and for all credit unions. Feeling fiduciary!

2 comments:

Anonymous
said...

Now you are talking! Experienced and knowledgeable and willing to do the job. Think about it for a minute. Goes up great. Goes down and Jim does not complain about investments in the NCUSIF anymore. NCUA this is a win-win proposition for you.

NO WAY they take the offer as it would show that NCUA senior staff has been wrong for YEARS. Wait until Fryzel pushes McWatters aside and anoints himself as chairman of the NCUA board so he can claim credit for everything again. MAKE AMERICA GREAT AGAIN by bringing back retreads. I'd let Blaine do it in a NC minute (just a tad slower than a NY minute).

Subscribe To

Jim Blaine lives in the woods in rural North Carolina. He is slightly balding, can be testy, is not getting thinner, has been known to argue and has at least one opinion on everything. Jim thinks he can dance, but he really can’t; likes most people and some dogs. He is a graduate of UNC-Chapel Hill, holds an MBA from Duke University and is also a CPA (inactive). Jim has worked with the State Employees’ Credit Union and has served unsuccessfully on numerous boards and committees. His grandchildren call him “Sweetbaby", but they are still too young to know better.